Liquidity Test. The Borrower will calculate and report to the Administrative Agent no less frequently than with the monthly Borrowing Base Certificate and will not permit the aggregate Value of the Portfolio Investments that are Cash (excluding Cash Collateral for outstanding Letters of Credit) or that can be converted to Cash in fewer than 10 Business Days without more than a 5% change in price, to be less than 10% of the Covered Debt Amount, for more than 30 consecutive Business Days during any period when the Adjusted Covered Debt Balance is greater than 90% of the Adjusted Borrowing Base.
Appears in 7 contracts
Samples: Senior Secured Revolving Credit Agreement (Goldman Sachs BDC, Inc.), Senior Secured Revolving Credit Agreement (Goldman Sachs BDC, Inc.), Senior Secured Revolving Credit Agreement (Goldman Sachs BDC, Inc.)
Liquidity Test. The Borrower will calculate and report to the Administrative Agent no less frequently than with the monthly Borrowing Base Certificate and will not permit the aggregate Value of the Portfolio Investments that are Cash (excluding Cash Collateral for outstanding Letters of Credit) or that can be converted to Cash in fewer than 10 Business Days without more than a 5% change in price, to be less than 1015% of the Covered Debt Amount, for more than 30 consecutive Business Days during any period when the Adjusted Covered Debt Balance is greater than 9085% of the Adjusted Borrowing Base.
Appears in 3 contracts
Samples: Senior Secured Revolving Credit Agreement (Goldman Sachs Middle Market Lending Corp.), Senior Secured Revolving Credit Agreement (Goldman Sachs Middle Market Lending Corp.), Revolving Credit Agreement (Goldman Sachs BDC, Inc.)
Liquidity Test. The Borrower will calculate and report to the Administrative Agent no less frequently than with the monthly Borrowing Base Certificate and will not permit (i) the aggregate Value of the Eligible Portfolio Investments in the Collateral Pool that are Cash (excluding Cash Collateral for outstanding Letters of Credit) or that can be converted to Cash in fewer than 10 Business Days without more than a 5% change in price, to be less than 10% of the Covered Debt Amount, for more than 30 consecutive Business Days during any period when the Adjusted Covered Debt Balance is greater than 90% of the Adjusted Borrowing Base.
Appears in 2 contracts
Samples: Senior Secured Revolving Credit Agreement (AG Twin Brook Capital Income Fund), Senior Secured Revolving Credit Agreement (AG Twin Brook Capital Income Fund)
